Quantcast
Connect with us

WaPo columnist rains hell on Trump’s latest ‘quack-tastic’ Federal Reserve nominee

Published

on

President Donald Trump is reportedly planning to nominate former presidential candidate Herman Cain to serve on the Federal Reserve, which has prompted Washington Post economics columnist Catherine Rampell to write a scathing takedown of the former pizza chain mogul’s views of monetary policy.

In her column, Rampell calls Cain’s views on economics “quack-tastic” and says that he would be unfit to serve on the Fed even if he didn’t have a long list of sexual harassment allegations dogging him.

ADVERTISEMENT

“Perhaps the bigger issue is that Cain has said — repeatedly — that the United States should return to the gold standard,” she writes. “This stance is one Moore has also intermittently espoused, and it has been roundly rejected by actual economic experts. That includes, for instance, every single economist surveyed by the University of Chicago’s IGM Economic Experts Panel.”

Rampell also notes that Cain has gotten involved in right-wing grift schemes ever since his presidential campaign went down in flames in 2012.

“Cain spent the years following his failed presidential campaign spamming his email followers with snake-oil scams, promising ‘weird tricks’ that would make his followers get rich quick or ‘naturally’ cure their erectile dysfunction,” she writes. “Of course, such grifting might enhance Cain’s candidacy in Trump’s eyes, but it hardly bodes well for a man seeking to join an institution with consumer protection duties.”

Read the whole column here.


Report typos and corrections to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

Breaking Banner

Bill Barr and Trump desperately want to blame Antifa for violence — but they’re coming up dry so far

Published

on

President Donald Trump has turned his wrath on Antifa during the George Floyd protests, demanding Antifa be labeled a terrorist organization and accusing the movement of committing acts of violence at demonstrations. But journalists William Bredderman and Spencer Ackerman, in the Daily Beast, threw cold this week on efforts to blame the leftist group.

They found that “none of the 22 criminal complaints representing the first wave of protest charges mention Antifa in any way.”

Continue Reading

2020 Election

Fox News poll spells doom for GOP in Arizona

Published

on

The GOP's chances in Arizona have not looked this bad in years.

This article first appeared in Salon.

A new Fox News poll of registered voters in the Grand Canyon State shows Democrat Mark Kelly miles ahead of Republican Sen. Martha McSally — 50% to 37% — with 8% undecided.

Further, McSally's problems appear to come from within her own party. While Kelly enjoys the support of nearly 90% of Democrats, only 73% of Arizona Republicans back McSally.

Continue Reading
 

Breaking Banner

Trump may come to regret his big celebration of a small dip in unemployment

Published

on

Though the unemployment rate remains in the double-digits, the official unemployment numbers are slightly lower than economists expected, prompting self-congratulations by President Donald Trump.

This article first appeared in Salon.

But experts say celebration is premature.

Indeed, the Bureau of Labor Statistics reported that the unemployment rate fell from 14.7 percent in April to 13.3 percent in May as the economy added 2.5 million jobs. The high April number was the worst that the American workforce had seen since monthly record-keeping began in 1948, and almost certainly the worst since the Great Depression. White House economic adviser Kevin Hassett predicted last month that unemployment would rise above 20 percent, a view that was widely shared by economists.

Continue Reading
 
 
You need honest news coverage. Help us deliver it. Join Raw Story Investigates for $1. Go ad-free.
close-image